The prohibitions in regulations 11 to 15 (asset-freeze etc) do not apply to anything done under the authority of a licence issued by the Treasury under this paragraph.

The Treasury may issue a licence which authorises acts by a particular person only where the Treasury consider that it is appropriate to issue the licence for a purpose set out in Schedule 2.

Where the Treasury issue a licence, the Treasury may vary, revoke or suspend it at any time.

Where the Treasury issue, vary, revoke or suspend a licence which authorises acts by a particular person, the Treasury must give written notice to that person of the issue, variation, revocation or suspension of the licence.

Where the Treasury issue, vary, revoke or suspend a licence which is general or which authorises acts by persons of a particular description, the Treasury must take such steps as the Treasury consider appropriate to publicise the issue, variation, revocation or suspension of the licence.